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Definition
| Exchange occurs in all human societies. Exchange may involve goods, services, ideas, or wealth. Exchange may take place in one of five basic forms that are not mutually exclusive: Generalized Reciprocity, Balanced Reciprocity, Negative Reciprocity, Redistribution, and Market Exchange. |
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Term
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Definition
| Often described as a gift. No specific return expected. No time frame for completion of the transaction. Classic ethnographic example: child rearing. FDR's New Deal Program - 1935, response to the Great Depression. Moral obligation of all Americans to help fellow citizens. Passage of Social Security Act assured that all ... |
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Term
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Definition
| Often described as a gift. Specific expectations concerning return gift. Specific time frame for completion of transaction. Classic ethnographic case: Trabri and Islands Kula - necklace and armbands always exchanged of one another. |
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Term
| George W. Bush preferred Balanced Reciprocity |
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Definition
| Partial privatization of Social Security System. Replace SS System with system of corporation-created and managed "Private Retirement Accounts." Your contributions belong to YOU, not society. You get back what you put in, no one else shares your contribution and you share no one else's. |
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Definition
| Most intriguing, allows for creativity. Seeking to realize the greatest return for the least investment. Common varieties: theft, protection rackets, home maintenance (roofs/driveway sealing) |
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Definition
| Accumulation of goods and wealth at a central point (w/ authority to collect). Disbursal of goods or wealth to various recipients |
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Term
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Definition
| Specialization. Separation of production and consumption. Production of Surplus. Existence of Money. |
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